This checklist has been provided to assist you through the process of
gathering the necessary information for the initial evaluation of your
loan proposal. Complete information will be necessary to evaluate your
ALL EXHIBITS MUST BE SIGNED AND DATED
||Signed Memorandum of Understanding (MOU) with Good
Faith Deposit Check of two thousand dollars ($2,000).
||A short history and description of the business and analysis of
management ability. Resumes of all individuals referred to in No.
9 (below), noting relevant business experience.
||A brief description of the project. Please include location, benefits
to the business, cost estimates, use of proceeds, source of company’s
equity injection, summary of the participating lender’s involvement,
and estimate of jobs created or saved as a result of the project.
||Personal History Statements (SBA Form 912 enclosed) for all individuals
in item No. 9 (below) and all Directors regardless of ownership.
Photocopy of Driver’s License, Passport, or suitable Photo
Identification for each of the above.
||The names of all affiliated businesses (through ownership or management
control) as well as the last two fiscal year-end statements and/or
two years Federal tax.
||Lease agreement if real estate is owned or to be owned by real
estate holding company that is a different legal entity from the
operating business. Franchise Agreement and Franchise Disclosure
Statement, if applicable.
||A balance sheet and income statement for the previous two years
and two years income Projections. If a new business, provide a pro-forma
opening balance sheet and a monthly cash flow analysis for the first
twelve months of operation or for three months beyond the breakeven
point (whichever is longer) with a description of assumptions attached.
||An interim balance sheet and income statement no older than 90
days together with an aging of accounts receivable and accounts
payable (Mid-Atlantic Form 29 attached).
||Personal financial statements, dated within the last 60 days,
(SBA Form 413 enclosed) on each proprietor, each partner, and each
stockholder with 20% or more ownership of the operating company
and each owner with 20% or more ownership of the real estate holding
company, if formed. Spouses must sign each personal financial statement
||Two years of corporate financial statements or tax returns and
one year of personal tax returns.
||IRS Form 4506T for tax verification of the operating company.
(Form 4506T attached).
||A schedule of debts owed by the business (Mid-Atlantic Form 30
||A schedule of real estate owned by the business (Mid-Atlantic
Form 31 attached).
||A schedule of other Government Loans obtained by the business
or any individuals (Mid-
Atlantic Form 32 attached).
||Schedule C, SBA 1244, signed by principals and all guarantors
||Borrowers Certification that all financial information submitted
is accurate and can be relied upon (Mid-Atlantic Form 33 attached).
||Release for Credit Report, signed by principals and all guarantors
(Mid-Atlantic Form 37 attached).
||From the participating lender the following submissions are required:
|A copy of the financial package from the participating
lender, which should include loan write-up, financial, spreads,
|Environmental Report (See Mid-Atlantic Form No. 34).
|Appraisal (See Mid-Atlantic Form No. 35).
|Survey (See Mid-Atlantic Form No. 36).
|Bank letter explaining the need for 504 financing. Template will
Please Note: If the participating lender does not require
B, C, or D above, Mid-Atlantic will make arrangements with the borrower.